Switzerland-based PostFinance AG acquired an 11% stake in online social trading platform wikifolio Financial Technologies AG.
Wikifolio, which is based in Vienna, Austria, combines financial investments with the principles of social networks, allowing private and professional traders to publish their trading activity and implement their investment strategy on the platform in practice custody accounts. It operates in Germany and Switzerland.
PostFinance said it is diversifying its income structure and in tapping into new sources of noninterest income. The lender is pursuing opportunities in corporate venturing, which it has been heavily involved in since 2016.